The government announced plans to restrict Brazilian gambling industry payments as part of a broader effort to regulate the sector. However, lawmakers are still deciding on specific regulations. The Ministry of Finance scheduled discussions with legal sportsbook operators regarding payment restrictions.
Executive Secretary of the Ministry of Finance Dário Durigan has stated that the approved websites still active in the country would be the primary subject of these discussions. Durigan claimed that 190 websites have been allowed, and President Lula has approved imposing payment limitations. According to sportsbook pay per head experts, these limits may involve limiting the usage of Bolsa Família and other government-issued payment cards.
On October 11, the government will implement its decision to ban unlicensed betting websites. Durigan said the shutdown of these websites will facilitate the establishment of more transparent regulations on online gambling, especially for recipients of government assistance.
Restrictions on Brazilian Gambling Industry Payments
Recently, research by the Central Bank revealed that Brazilians wager an average of $3.7 billion monthly on gambling using the Pix payment system. This revelation has heightened concerns about the gaming business. Notably, 5 million Bolsa Família beneficiaries reportedly spent $550,000 online gaming in August. Because of this, the government finally felt compelled to act on the problem.
In addition, the Ministry of Finance is compiling a negative list of enterprises engaged in illicit gaming. According to gambling software providers, this list will be shared with relevant authorities, such as Anatel, to assist in removing these websites.
In addition, Ricardo Lewandowski, the minister of justice, has stated that the federal police are combating unlawful gambling-related finances. He added that influencers under 18 will be barred from engaging in the betting business.
Fernando Haddad, minister of finance, said that the government has passed many laws to control the betting industry, including regulations regarding certification, financial supervision, fair play, and the elimination of the use of credit cards for online gambling.
The Ministry has already outlawed using credit cards to place bets. Credit card companies initiated this restriction, voluntarily disabling the feature earlier this year. It is expected to be implemented in January 2025.
The Brazilian government plans to remove 2,000 illegal betting sites from the Internet in the next few days. The Ministry of Finance began a broader process to regulate the gambling sector in January 2025, and this endeavor is part of that process.
Stake Enters Brazilian Gambling Market
The newest whitelist, announced yesterday (8 October) by the Prizes and Betting Secretariat (SPA/MF) of the Ministry of Finance, now includes Stake.com. The EasyGo-operated company has been actively expanding its regulated market offering, especially in Latin America, in recent years, despite its worldwide reputation for its online gaming platform backed by cryptocurrencies.
In addition to the 18 corporations that have received licenses from specific states, the federal list now includes 96 more companies operating 213 brands. The most recent update also removed Hiper Bet Tecnologia, the operator of Hiper Bet, and LBBR APOSTAS DE QUOTA FIXA LIMITADA, the operator of three brands.
The total authorization will be granted later, but all operators can continue their activities until the end of December. As it has done in other Latin American areas, Stake intends to recruit a dedicated national manager and soon create an office in São Paulo.
The business said this will supplement its global activities while expanding its local presence in the area. According to bookie news reports, Stake is associated with the Brazilian mixed martial arts organization UFC and the Série A club Juventude.
